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The Central Bank Of Honduras Has Denied Reports That It Will Accept Bitcoin As Legal Tender

According to multiple media sources, Honduran President Xiomara Castro is considering recognising Bitcoin as legal cash. The Central Bank of Honduras, or BCH, has responded to rumors that the country, like neighbouring El Salvador, will accept Bitcoin as legal cash.

The Central Bank of Honduras clarified on Wednesday that Bitcoin will not be accepted as legal money in the country. They also stated that cryptocurrencies in the country are not regulated and would not be used as legal money for transactions.

Moreover, the central bank of Honduras has reiterated its constitutional authority as the country’s sole approved “issuer of banknotes and coins” that would be considered legal currency in the country.

“BCH does not supervise or guarantee operations carried out with cryptocurrencies as means of payment,” it said in a statement. “Any transaction carried out with these types of virtual assets is the responsibility and risk of those who do it,” it further explained.

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Regarding its resistance to accepting Bitcoin as legal cash, the Central Bank of Honduras announced that it was continuing to study the feasibility of developing a central bank digital currency, or CBDC. Furthermore, the Central Bank stated that the CBDC would be considered as legal cash in the country and would be suitably regulated.

The Central Bank of Honduras was forced to issue this statement after various news agencies reported in recent days that Honduran President Xiomara Castro was considering recognising Bitcoin as legal cash.